Indonesia: Trade surplus widened in February – UOB
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Economist at UOB Group Enrico Tanuwidjaja reviews the latest trade balance figures in Indonesia.
“Trade surplus in Feb widened to a high of USD5.5bn from USD3.9bn in Jan on the back of imports’ contraction of 4.3% y/y (vs. consensus of a 9.1% gain and a reversal of Jan’s +1.3%) and growth in exports of 4.5% despite a marked slowdown from 16.4% in Jan.”
“Oil & gas (OG) exports’ growth slowed to slightly less than 20% y/y viz. a whopping 65.1% in Jan, driven mainly by slowdown in mineral fuel exports but offset by respectable gains in machinery and electrical equipment exports. Non-OG exports’ growth also slowed to 3.8% y/y in Feb vs. 14% growth in Feb.”
“Meanwhile, OG imports contracted by 17.1% y/y in Feb, a marked turnaround from Jan’s growth of 30.4% while the non-OG imports contracted at a lesser pace of 1.6% in Feb vs. Jan’s contraction of 2.8%.”
[/s2If]
Join Our Telegram Group
